GoPro, Inc. entered a definitive merger agreement with Starman Optical, Inc., a private optical-photonics firm. GoPro shareholders will receive $285 million in total cash. The deal provides $1.14 per share to existing investors. Current shareholders will retain a 10% ownership stake in the combined company. The merger targets growth in AI data centers, defense, and aerospace sectors.
The announcement follows a massive stock rally starting August 31. YouTube creator Markiplier became the largest individual Class A shareholder with an 8.5% stake. This disclosure triggered a significant short squeeze amid high short interest. GoPro shares continued to climb during pre-market trading on September 1.